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The Vitamin Supplements Market size was valued at USD 47.27 Billion in 2023 and is expected to reach USD 84.96 Billion by 2032 and grow at a CAGR of 6.73% over the forecast period of 2024-2032.
Vitamins are natural mixtures that individuals need in little amounts. Most vitamins need to come from food on the grounds that the body either doesn't deliver them or creates very little. Vitamins are natural substances present in minute sums in regular staples. Having an excessive bit of a specific vitamin might expand the gamble of fostering specific medical problems.
A vitamin is a natural compound, and that implies that it contains carbon. It is likewise a fundamental supplement that the body might have to get from food.
Vitamin supplements are broadly consumed as healthful supplements across the world as they are helpful in the treatment of different illnesses and backing in general resistance. The producers working in the market have seen an expansion popular because of the COVID-19 pandemic.
Bayer dispatches The Nutrient Gap Initiative to Expand Access to Vitamins and Minerals for 50 million People Annually Worldwide by 2030. The program will likely contact 50 million individuals in underserved networks each year by 2030 through direct activity and in organizations with basic non-legislative associations (NGOs) with an emphasis on mediation, training, and promotion. The Nutrient Gap Initiative is the principal program that will affect Bayer's Consumer Health division’s maintainability obligation to empower admittance to ordinary wellbeing for 100 million underserved individuals, by 2030.
Driving Factors:
Mindfulness among purchasers in regards to wellbeing and health is moving the pattern.
The change in purchaser inclination because of expansion in the center around wellbeing and anticipation.
Restraining Factors:
Opportunities:
The shift toward plant-based protein supplements.
Challenges:
Shopper suspicion and phony enhancements related to nutraceutical items.
The COVID-19 pandemic has radically changed the food utilization example of the living being, which is excluded as 8-10 individuals and has significantly altered their approaches to dietary patterns and has consolidated wholesome advanced food items in their everyday life. For example, according to the International Food Information Council's (IFIC) 2020 Food and Health Survey, 85% of Americans caused changes in the food they eat or how they get ready food in light of the fact that in the hour of Covid (COVID-19) pandemic.
The explosion of pandemic frenzy supplements a consistent ascent in the good food utilization and their deals that financial backers have to a great extent disregarded in the midst of the monetary calamities of better-realized food consolidated with nutrients and minerals, fish oil, and probiotics among others.
By Type:
Multivitamin supplements involve a blend of vitamins & minerals and on occasion different fixings as well.
The developing mindfulness in regards to wellbeing and well-being has brought about buyers favoring food items imbued with nutrients that proposition added medical advantages and this is probably going to move the customer consideration from clinical therapies to preventive consideration items. The interest for multivitamin supplements is expanding across the globe as a total bunch of nutrients.
By Distribution Channel:
The offline segments overwhelmed the market. In the offline fragment, the hypermarkets/store segments caught the biggest income share. A different segment or rack for wellbeing items in hypermarkets and general stores empowers clients to handily recognize their ideal image, which is a key variable moving the market development. The hypermarkets/stores section is building up some decent momentum on the lookout. The all-around kept up with and organized items, definite client nostalgic examination to comprehend purchaser inclinations relating to items and brands and their eagerness to address premium costs for explicit items are the elements prone to help the development of the hypermarkets/stores segments over the figure period.
By Forms:
The tablet segments ruled the market as the tablet type of nutrients is generally consumed by grown-ups across the world. Albeit the normal covering gives better disintegration, a few different variables decide the ingestion based on viability and quality. Tablet structure is one of the simplest methods of nutrient enhancement utilization. It tends to be consumed in view of remedy and non-solution also. Tablets are not difficult to swallow and come in a wide range of nutrients. Tablets are the most normally utilized sort of nutrient enhancement inferable from their expense adequacy. Makers can pack the most sum in a given space in tablet structure and tablets have a more drawn-out timeframe of realistic usability when contrasted with containers.
By Type:
Multivitamin
Vitamin A
Vitamin B
Vitamin C
Vitamin E
Vitamin K
By Distribution Channel:
Offline
Hypermarkets/Supermarkets
Specialty Stores
Others
Online
By Form:
Powder
Tablets
Capsules
Softgels
Gummies
Others
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Among North Americans, there is an expansion in stoutness and way of life-related illnesses because of their undeniably unfortunate weight control plans, expanded discretionary cash flow, and admittance to different handled and prepared-to-eat food sources. Likewise, useful food varieties and enhancements have developed in the 'progressing face of food' as they give a wide assortment of medical advantages past fundamental nourishment. Regarding this, the utilization of items, for example, braced, improved, enhanced, and upgraded food varieties and nourishing enhancements as a feature of a fluctuated diet consistently can have great effects on wellbeing. Multivitamins arose as a critical portion in the North American market for nutrient enhancements inferable from the rising mindfulness with respect to their advantages in general wellbeing and substantial upkeep. Because of these variables, nutrient enhancement utilization is supposed to increment in North America.
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Glanbia Plc, Pfizer Inc., Good Health New Zealand, Nature's Sunshine Products, Inc., NU SKIN, The Nature's Bounty Co., NOW Foods, Abbott, Herbalife Nutrition, Bayer AG, Amway Corp., GlaxoSmithKline plc., RBK Nutraceuticals Pty Ltd., American Health, Inc., Pharmavite.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 47.27 Billion |
| Market Size by 2032 | US$ 84.96 Billion |
| CAGR | CAGR 6.73% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Type (Multivitamin, Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, Vitamin K) • by Form (Powder, Tablets, Capsules, Softgels, Gummies & Others) • by Distribution Channel (Offline & Online) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Glanbia Plc, Pfizer Inc., Good Health New Zealand, Nature's Sunshine Products, Inc., NU SKIN, The Nature's Bounty Co., NOW Foods, Abbott, Herbalife Nutrition, Bayer AG, Amway Corp., GlaxoSmithKline plc., RBK Nutraceuticals Pty Ltd., American Health, Inc., Pharmavite |
| Drivers | •Mindfulness among purchasers in regards to wellbeing and health is moving the pattern. |
| Market Challenges | •Shopper suspicion and phony enhancements related to nutraceutical items. |
Ans: The tablet segment is projected to make a foothold in the worldwide Vitamin Supplements market.
Ans: The base year calculated in the Vitamin Supplements market report is 2023.
Ans: Key players in Vitamin Supplements markets are Glanbia Plc, Pfizer Inc., Good Health New Zealand, Nature's Sunshine Products, Inc., NU SKIN, The Nature's Bounty Co., NOW Foods, Abbott, Herbalife Nutrition, Bayer AG, Amway Corp., GlaxoSmithKline plc., RBK Nutraceuticals Pty Ltd., American Health, Inc., Pharmavite
Ans: Mindfulness among purchasers in regards to wellbeing and health is moving the pattern and The shift toward plant-based Supplements are the element driving and resulting in opportunities for the Vitamin Supplements market.
Ans: The Global Vitamin Supplements Market Size is supposed to develop at a CAGR of 6.73% over the forecast period 2024-2032.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Vitamin Supplements Market segmentation, By Type:
8.1 Multivitamin
8.2 Vitamin A
8.3 Vitamin B
8.4 Vitamin C
8.5 Vitamin D
8.6 Vitamin E
8.7 Vitamin K
9. Global Vitamin Supplements Market segmentation, By Distribution Channel:
9.1 Offline
9.1.1 Hypermarkets/Supermarkets
9.1.2 Specialty Stores
9.1.3 Others
9.2 Online
10. Global Vitamin Supplements Market segmentation, By Form:
10.1 Powder
10.2 Tablets
10.3 Capsules
10.4 Softgels
10.5 Gummies
10.6 Others
11. Global Vitamin Supplements Market, by region/ country
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company profiles
12.1 Glanbia Plc
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 Swot Analysis
12.1.4 The SNS View
12.2 Pfizer Inc.
12.3 Good Health New Zealand
12.4 Nature's Sunshine Products, Inc.
12.5 NU SKIN
12.6 The Nature's Bounty Co.
12.7 NOW Foods
12.8 Abbott
12.9 Herbalife Nutrition
12.10 Bayer AG
12.11 Amway Corp.
12.12 GlaxoSmithKline plc.
12.13 RBK Nutraceuticals Pty Ltd.
12.14 American Health, Inc.
12.15 Pharmavite
13. Competitive Landscape
13.1 Competitive Bench Marking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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